Rockville, US, 2018-May-23 — /EPR Network/ — Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of global earthmoving equipment tires market. The study is titled as “Earthmoving Equipment Tires Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global earthmoving equipment tires market.

As per the report by Fact.MR, the global earthmoving equipment tires market is expected to witness moderate growth, growing at a CAGR of 4.0% in terms of value during the forecast period. The global earthmoving equipment tyres market is also estimated to bring in US$ 16,128.0 million in terms of value by the end of 2026. Meanwhile, in terms of volume, the market is projected to reach 1,884 million units by 2026 end. With advances in automation, the manufacturing process of tires, especially earthmoving equipment tires has accelerated. There has been an increase in construction and infrastructure projects globally and earthmovers are being used on a large scale in the construction industry. Hence, driving the demand for earthmoving equipment tires. Below are the insights on how the global earthmoving equipment tires market will perform in the coming years.

5 Forecast Highlights on Global Earthmoving Equipment Tires Market

1- Asia Pacific Excluding Japan (APEJ) is likely to lead the global market for earthmoving equipment tires between 2017 and 2026. By the end of 2026, APEJ is projected to reach nearly US$ 4,800 million revenue. In APEJ region, China is one of the leading manufacturers of off-road-vehicles and also accounts for maximum sales. Meanwhile, India, Malaysia, and Thailand are also witnessing increasing sales of off-the-road vehicles and tires.

2- Backhoe loaders are expected to emerge as the highly preferred vehicle type between 2017 and 2026. By the end of 2026, backhoe loaders are estimated to bring in close to US$ 4,400 million revenue.

About Fact.MR
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